eBay, the San Jose-headquartered e-commerce company, has said that it’s to cut approximately 1,000 roles—an estimated 9% of full-time employees–in a letter sent to its workforce.

In addition to the 1,000 full-time jobs, the online marketplace will also reduce the number of contract workers it has over the coming months.

Jamie Iannone, the company’s chief executive, cited economic headwinds and “overall headcount and expenses” as the reasons behind the latest round of layoffs.

“Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control,” wrote the CEO.

“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business.

“To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world.”

Iannone stated that employees affected by the layoffs would shortly be notified, followed by a consultation process.

“We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and this isn’t easy,” he noted.

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The layoffs are but the latest in a long line of post-COVID staff reductions from global tech companies, with many firms citing reasons including high inflation rates, changing consumer demand, and slower than expected growth.

In January alone, numerous notable firms have already announced that they’re looking to reduce the size of their workforce.

For instance, DIGIT reported earlier this week that video games company Riot is reducing headcount by 11%—equalling 530 jobs—due to unsustainable costs following years of expansion, according to the company’s chief executive, Dylan Jadeja.

Another firm in the video games space, Unity Software—creators of the Unity game engine which is used for lucrative games such as “Pokemon Go”—submitted a regulatory filing recently which stated it would cut around 25% of its staff, or about 1,800 jobs.

Just under a year ago, eBay laid off around 500 employees, around 4% of its total workforce.